Philadelphia-based Lincoln Financial is launching four new lifestyle funds that allocate risk based on an investor's life circumstances. In other words, the funds base their risk levels and how close an investor might be to reaching their retirement goals.

Known collectively as The Lincoln VIP Profile Funds (LVIP), the group includes the LVIP Conservative Profile, LVIP Moderate Profile, LVIP Moderately Aggressive Profile and LVIP Aggressive Profile. They are only available through select Lincoln variable products issued by affiliates of the money manager's parent corporation, Lincoln National, effective May 16.

According to company officials, Santa Monica, Calif.-based Wilshire Funds Management, a business unit of Wilshire Associates, will mange the funds. Wilshire Associates provides asset allocation consulting to some of the largest retirement plans in the country, which have combined assets of more than $1.3 trillion.

Officials at Lincoln Financial said its agreement with Wilshire Funds Management would offer Lincoln's clients "access to institutional expertise on market conditions, manager research and portfolio construction typically only available to the largest financial institutions."

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